1968 Jaguar E-Type MK 2 by Polistil of Italy.

Polistil S.p.A. (initially called Politoys) is an Italian model car brand and former manufacturing company headquartered in Milan, with production centre in Chiari, near Brescia, Italy. Polistil specialized in die-cast and plastic scale models vehicles of all sizes.

There is a new site about the world of toys and his History of Polistil Factory: "Quelli della Polistil" on www.quellidellapolistil.it 

The company also made toy and model tanks, dolls, robots and TV tie-ins. After a 33-year span, and a collaboration with Tonka, Polistil went out of business in 1993, but now is a brand under the May Cheong Group (owner of the brand Maisto), along with the name of former competitor Bburago .

By the late 1980s, Polistil had released over 500 different vehicles of all sizes. In the late 1980s, the larger scales were marketed in the U.S. in a new relationship with Tonka. Apparently, Tonka had purchased Polistil. 

The TG series of larger 1:16 scale cars such as the  Jaguar E-Type, Alfa Romeo 1750C, BMW 328 roadster, Lamborghini Countach, Ferrari GTO, Ferrari 250 California roadster and the Morgan Plus 8 were introduced about 1980. For the size, detail could have been better being somewhat less detailed in my opinion than 1/18 scale Bburago. 

Here is my British Racing Green open Jaguar E-Type Roadster in 1/16th scale. I also have a red version. The top was included in the package and could be fitted.

The MK2 was an unofficial name for the 1968 Jaguar E-Type when the front light covers were removed to meet US new regulations.